Expert says TCS is BUY, pegs short-term target price at Rs 3300 and stop-loss under Rs 3100

TCS share price today is Rs 3178, up Rs 74 or 2.4%. TCS share price has moved down from 3293 to Rs 3178 in the last 1 week. Technical Analyst Simi Bhaumik says that TCS should be bought for short term, the target price on TCS is Rs 3300 and the stop-loss is below Rs 3100. TCS share price is one of the leading companies on the Nifty today.
 
Ashis Biswas, Head of Technical Research at CapitalVia Global Research says that TCS is currently moving in an uptrend channel and has given a breakout of a rounding bottom Formation. TCS stock is trading above its 200DMA, indicating the positive momentum is intact. Ashis has witnessed the short-term moving averages are trading above their long-term average, and after recent correction, the stock is showing resilience and bounces back from its support. Ashis also recommends a buy with a target of Rs 3670 with a Stop-Loss of Rs 3070 from a medium-term Perspective.
 

See Zee Business Live TV Streaming Below:

Anand Rathi said that TCS has witnessed healthy growth in the top-line and it is also supported by the strong demand in core transformation services and strong revenue conversion from earlier deals.

Anand Rathi said that as per TCS management, strong outlook for BFSI vertical (strongest-ever BFSI deal bookings), investments in hyper-scalers units and improving supply-side metrics, could help the Company to post double digit growth in the year ended March 2022. With continuity of robust growth across segments, Anand Rathi expects the growth momentum to continue in the medium term supported by a strong deal pipeline and ramp up of large deals. We maintain our Buy rating on the stock with an upward revised target price of Rs 3,610 per share.